On Tuesday night, the Santa Clara City Council extended the deadline for a stadium financing deal to Feb. 1, 2009.
Please see the following 49ers Statement regarding the decision.
Statement from the San Francisco 49ers
The San Francisco 49ers support the Santa Clara City Council's recent decision to extend our negotiating agreement to give us time to develop a detailed term sheet for a new stadium.
The 49ers also share the city's commitment to holding a public vote on the project at the appropriate time. Once a term sheet is developed and approved, a timeframe for an election will be established by the Council with the full support of the team.
The Council's decision to extend the negotiating agreement does not impact the overall timing for this project. As we move forward with term sheet negotiations, the city's environmental impact review is also underway, which helps the project remain on track.